Posted by: anotherworldip | 04/21/2013

P-S

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Dear Project Syndicate reader,

This month, Project Syndicate launched Dynamism by Design, a new monthly series on innovation; released a new Focal Point on trouble with the BRICS; and announced the June launch of Lee Jong-Wha’s forthcoming monthly series on Asian economies. To keep up to date with all of our content, visit our Web site regularly, and follow us on Facebook and Twitter.

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Dynamism by Design

INNOVATION

In Project Syndicate’s exclusive new series,Dynamism by Design, the world’s leading experts in architecture, industrial design, medical research, economics, and other fields examine the causes and consequences of breakthrough innovations in communications, transport, energy (and energy storage), biotechnology, and similarly crucial sectors. Commentaries in this new series include:

Robert Langer on challenging conventional wisdom

Sami Mahroum on whether politically unstable countries are more creative

Peter Hoffmann on the promise of hydrogen energy and fuel cells

William Janeway on China and the frontiers of innovation

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Falling BRICS?

BRICS

Once hailed as the future drivers of global economic growth, the BRICS (Brazil, Russia, India, China, and South Africa) are facing a slowdown in GDP growth, delays on needed reforms, and a lack of meaningful consensus. In a new Focal PointProject Syndicatecontributors assess the collective and individual challenges facing the BRICS. Commentaries include:

Jaswant Singh on the BRICS’s separate paths to development

Dani Rodrik on the BRICS and global economic leadership

Joseph S. Nye on why the BRICS will not succeed

Zhang Monan on the structural threats to China’s financial stability

Kenneth Rogoff on India’s economic slowdown

Brahma Chellaney on the cracks in the BRICS

To read the full Focal Point, click here.

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New Monthly Contributor

Jhong Wha Lee_pic1

Beginning in June, Lee Jong-Wha, a former senior adviser to South Korea’s president and a former chief economist of the Asian Development Bank, will contribute monthly commentaries exclusively for Project Syndicate. Lee’s previous commentaries include:

“Abenomics and Asia”

“Euro Lessons for East Asia”

“Safeguarding Asia’s Growth”

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Recent Commentaries

soros

Germany’s Choice

by George Soros

FRANKFURT – The euro crisis has already transformed the European Union from a voluntary association of equal states into a creditor-debtor relationship from which there is no easy escape. The creditors stand to lose large sums should a member state exit the monetary union, yet debtors are subjected to policies that deepen their depression, aggravate their debt burden, and perpetuate their subordinate position. As a result, the crisis is now threatening to destroy the EU itself. That would be a tragedy of historic proportions, which only German leadership can prevent.

The causes of the crisis cannot be properly understood without recognizing the euro’s fatal flaw: By creating an independent central bank, member countries have become indebted in a currency that they do not control. At first, both the authorities and market participants treated all government bonds as if they were riskless, creating a perverse incentive for banks to load up on the weaker bonds. When the Greek crisis raised the specter of default, financial markets reacted with a vengeance, relegating all heavily indebted eurozone members to the status of a Third World country over-extended in a foreign currency. Subsequently, the heavily indebted member countries were treated as if they were solely responsible for their misfortunes, and the structural defect of the euro remained uncorrected…read more.

Yoon

Realism on North Korea

by Yoon Young-kwan

BERLIN – The world’s task in addressing North Korea’s saber rattling is made no easier by the fact that it confronts an impoverished and effectively defeated country. On the contrary, it is in such circumstances that calm foresight is most necessary.

The genius of the Habsburg Empire’s Prince Klemens von Metternich in framing a new international order after the Napoleonic Wars was that he did not push a defeated France into a corner. Although Metternich sought to deter any possible French resurgence, he restored France’s prewar frontiers…read more.

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Other Commentaries

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March’s Most Popular Commentaries

“Blinded by the Light” by Bjørn Lomborg

“What is Italy Saying?” by Joseph E. Stiglitz

“Ten QE Questions” by Nouriel Roubini

“Debt-Friendly Stimulus” by Robert J. Shiller

“Let it Bleed?” by J. Bradford DeLong


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